Singaporean family’s Riverina farms hit the market
A 1680ha portfolio of two citrus orchards near Hillston, have been listed for sale alongside a whopping 6300ML of water entitlements.
The foreign owners of one of Australia’s largest privately owned citrus orchard portfolios are preparing a pair of significant orchards for sale in the NSW Riverina.
The Tan family, based in Singapore, has listed the 1680ha Super Citrus portfolio, the production hub of its vertically-integrated Australian horticultural enterprise, Super Seasons Pty Ltd, which grows, packs and markets citrus produce.
Located near Hillston in the western NSW Riverina, the property portfolio contains the farms Rosemont and Talinga Park, each acquired by the Tan family in 2012.
Rosemont spans 980ha with about 390ha of mature citrus orchard planted to fresh and juicing orange varieties, lemons and grapefruit.
Extensive improvements include a packing shed, multiple residences and a 54-person worker accommodation hub.
About 120ha is suitable for further plantings with varied levels of infrastructure in place.
Separated by about a 45 minute drive, Talinga Park covers 702ha with 215 hectares of orchard area planted to fresh citrus varieties including oranges, tangelo and mandarins.
There is about 340ha of land suitable for further plantings with a large area already serviced by irrigation infrastructure. Operational infrastructure includes staff accommodation, shedding and staff amenities.
Alongside the two orchard properties there are also significant water entitlements of more than 6300ML for irrigation, as well as a long-term fruit supply contract with a major local juice company.
The Lachlan River entitlements comprise both high security and general security entitlements, and the Talinga Park orchard is irrigated entirely by groundwater.
No price guidance has been offered for the Super Citrus portfolio, which is expected to be sold as a whole.
Colliers Agribusiness agents Jesse Manuel, Tim Altschwager and Will Sumner are handling the sale via expressions of interest closing Wednesday, April 9 at 4pm.
“Investors for horticulture assets have a strong desire for orchards with economies of scale that are underpinned by large permanent water entitlements, so there is a great likelihood that the entire property and water portfolio will be sold as a whole,” Mr Manuel said.
“Rosemont and Talinga Park offer scale not seen within the Australian citrus market for some time.
“As a result, we expect strong interest from corporate and institutional investors looking to add to their current citrus portfolio or acquire a substantial foothold in the industry.”
“Fresh market fruit has historically been sold to both domestic and export markets, and the
substantial packing facility could easily be recommissioned to offer future on-site packing options,” agent Will Sumner added.
Earlier this year Warakirri Asset Management acquired Budwood Citrus, a modern 160ha planting near Leeton, NSW. It was the newest asset for the Warakirri Diversified Agriculture Fund, taking the value of the portfolio beyond $150m.
Acquired for $15m via an off-market transaction, Warakirri said the orchard featured a range of citrus varieties, first-class infrastructure and high security water entitlements.
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